Debate House Prices


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This is what the future holds for us?

Is this what the future holds for us? I know there are those who think the worse is over already but these were the headlines today on DrudgeReport.

I always think America seems to be ahead of us. I know, I know, the UK is different from the rest of the world when it comes to house prices and it is different this time...but things don't seem to be getting any better any time soon:

'U.S. home prices dropped at the sharpest rate in two decades during the first quarter, a closely watched index showed Tuesday, a somber indication that the housing slump continues to deepen. Standard & Poor's/Case-Shiller said its national home price index fell 14.1 percent in the first quarter compared with a year earlier, the lowest since its inception in 1988.'

http://www.breitbart.com/article.php?id=D90U247G4&show_article=1

'Soaring gas prices and weakening job prospects left shoppers gloomier about the economy in May, sending a key barometer of consumer sentiment to its lowest level in almost 16 years. The New York-based Conference Board said Tuesday that its Consumer Confidence Index dropped to 57.2, down from a revised 62.8 in April. Economists surveyed by Thomson Financial/IFR had expected a reading of 60.
The May reading marks the fifth straight month of decline and is the lowest since the index registered 54.6 in October 1992 when the economy was coming out of a recession.'

http://www.breitbart.com/article.php?id=D90U389O0&show_article=1


Of course there is no relationship between U.S house prices and the U.K. After all they experienced a massive housing bubble followed by a continuing and deepening slump in prices. Whereas, in the UK we haven't experienced even greater house price inflation.

BTLers, immigrants, the green belt and planning law will save us. God bless everyone of them.:T
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